in USPS

USPS Sees Light at the End of the Tunnel

It looks like the USPS is staying in business after all. Want to celebrate? You'll soon be able to have your beer and wine delivered via USPS.

As you are probably aware, the USPS has had some serious financial problems of late, including a $2 billion loss in the third quarter. Much of this stems from pre-budgeting requirements, where the organization has been required by Congress to fund pension liability far in advance of when they are due.

USPS management had advocated cutting Saturday service, but that now seems unlikely. There has been significant, bipartisan movement, however, to take action on other fronts.

Major components of legislation introduced by Sen. Thomas R. Carper (D-Del.) were warmly received at the Homeland Security and Governmental Affairs Committee hearing. The postmaster general, union leaders, and the Printing Industries of America all voiced support for the bill, which also enjoys bipartisan backing in Congress.

The legislation includes provisions to reform two key expense areas: the retiree health benefits prefunding obligation and the requirement that eligible retirees participate in Medicare. It also allows the Postal Service to provide new services, including alcohol delivery.